managi troubled subprime
mortgages in the freddie mac and
fannie mae portfolios.
the people of the united states
have through the fed have
propped up fanny and freddie to
the tune of $200 billion.
for the record, can you provide
the contract that black rock has
with the fed, particularly the
one regarding the management of
fannie mae and freddie mac's
port fort yoes?
>> i don't know if i can.
we don't run black rock.
we have two or three seats on
the board, but don't have a ceo
or chairman and he doesn't
report to anyone in bank of
america --
>> you own 49.9%.
isn't that a strange
relationship.
>> we don't own 51%.
that would be the difference.
>> do you know how much black
rock will earn from that
contract with the federal
reserve to manage fannie and